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El Puerto De Liverpool, S.A.B. De C.V

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El Puerto De Liverpool, S.A.B. De C.V El Puerto de Liverpool, S.A.B. de C.V September, 2017 Safe Harbor Statement This presentation has been prepared by El Puerto de Liverpool, S.A.B. de C.V. (together with its subsidiaries, “Liverpool”), is strictly confidential, is not intended for general distribution and may only be used for informational purposes. This presentation may contain proprietary, trade-secret, and commercially sensitive information and neither this presentation nor the information contained herein may be copied, disclosed or provided, in whole or in part, to third parties for any purpose. By receiving this presentation, you become bound by the above referred confidentiality obligation and agree that you will, and will cause your representatives and advisors to, use the information contained herein only to evaluate a credit rating for Liverpool and for no other purpose. Failure to comply with such confidentiality obligation may result in civil, administrative or criminal liabilities. The distribution of this presentation in other jurisdictions may also be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. Although the information presented in this document has been obtained from sources that Liverpool believes to be reliable, Liverpool does not make any representation as to its accuracy, validity, timeliness or completeness for any purpose. The information set forth herein does not purport to be complete and Liverpool is not responsible for errors and/or omissions with respect to the information contained herein. Certain of the information contained in this presentation represents or is based upon forward-looking statements or information. These forward-looking statements may relate to Liverpool’s financial condition, results of operations, plans, objectives, future performance and business, including, but not limited to, statements with respect to outlooks and growth prospects, liquidity, capital resources and capital expenditure, growth in demand for our products, economic outlook and industry trends, development of our markets, competition in areas of our business; and plans to launch new products and services, and the effect of legal proceedings and new laws, rules and regulations and accounting standards on Liverpool’s financial condition and results of operations. All statements contained in this presentation that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions are generally intended to identify forward-looking statements. The information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurance as to future results. Liverpool and its advisors expressly disclaim any obligation or undertaking to update or revise the information, including any financial data and forward-looking statements, and will not publicly release any revisions they may make to this presentation that may result from events or circumstances arising after the date of this presentation. Any projections included herein have been prepared based on Liverpool’s views as of the date of this presentation of future events and financial performance and various estimations and assumptions, including estimations and assumptions about future events, may prove to be incorrect or may change over time. The projections have been prepared and are set out for illustrative purposes only, and do not constitute a forecast. While the projections are based on assumptions that Liverpool believes are reasonable under the circumstances, they are subject to uncertainties, changes (including changes in economic, operational, political, legal, and other circumstances) and other risks, all of which are beyond Liverpool’s control and any of which may cause the relevant actual, financial and other results to be materially different from the results expressed or implied by such projections. No assurance, representation or warranty is made by any person that any of the projections will be achieved and no recipient should rely on the projections. None of Liverpool, its affiliates, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated or any of their respective directors, officers, employees, partners, shareholders, advisers and agents makes any assurance, representation or warranty as to the accuracy of the projections. Nothing contained in this presentation may be relied upon as a guarantee, promise or forecast or a representation as to the future. Liverpool undertakes no obligation to update the projections or any of the information contained in this presentation. 2 Investment highlights One of the leading department store retailers with national presence in 1 prime locations Highly recognized brand, consistently in the top of mind of 2 consumers 3 Unique and proven integrated business model 4 Distinctive customer-centric, family-oriented product offering Experienced management team with proven track record and 5 strong corporate governance Strong financial performance with robust cashflow generation and a 6 disciplined leverage policy Attractive macroeconomic and retail sector fundamentals in Mexico for 7 continued growth 3 Liverpool at a glance . Founded in the 19th century, with 170 years of successful track record . Highly recognized brand, consistently in the top of mind of consumers . One of the leading department store retailers with national presence in prime locations Synergies Unique and proven integrated business model Liverpool strives to Consumer Finance Retail Department Shopping provide an outstanding Stores & Boutiques Centers and . Leading non-bank and seamless third largest credit card . 126 department . More than shopping issuer in Mexico stores (+1.5mm sqmt) 1,500 tenants experience . More than 4.4mm credit in prime locations . Occupancy rate across all card holders channels . 122 Suburbia stores of 96% . 46% of the total . Leading e-commerce . With ~470K m2 commercial sales were retailer of GLA through own credit cards Synergies 4 Strong financial performance with robust cash flow generation and disciplined leverage policy Revenues EBITDA and EBITDA margin (Ps $ in millions) (Ps $ in millions) $100,442 $91,293 $81,214 $74,504 $66,247 10% $29,903 7% 7% 6% 8% $24,285 9% 6% 2012 2013 2014 2015 2016 2016 2Q 2017 2Q Same store sales growth Cash flow (Ps $ in millions) $11,691 Leverage $8,562 $8,652 1.6x $6,506 $6,414 1.1x 1.2x1.1x $4,821 $7,958 0.9x 1.0x 0.9x $6,545 $2,588 $2,659 0.6x $4,873 0.4x $4,970 $1,155 $420 0.06x 2012 2013 2014 2015 2016 2016 2T 2017 2T 2012 2013 2014 2015 2016 Cash flow from operations Capex Debt/EBITDA Net debt/EBITDA Liverpool has been a consistent performer, delivering solid results throughout the years 5 Compelling story of disciplined growth for the last 170 years Historically, Liverpool has reinvested its profits to expand its operations (Number of Stores)(1) 1998 – Acquisition of Salinas y Rocha, allowing 2017 – Liverpool buys 100% of Suburbia (April) Liverpool to increase its portfolio by 11 stores 1965 – Launches IPO in the 126 Mexican Stock Market 2013 – Reaches 100 department stores 114 112 1988 – Acquisition of Fábricas de Francia, 106 incorporating 5 additional stores 104 99 1962 – Second Liverpool opens in Insurgentes, Mexico City 90 85 79 77 1982 – Inaugurates its first stores outside of Mexico City 1997 – Acquisition of Las Galas, a 70 department store chain with 7 outlets 1934 – First Liverpool department store inaugurated in Mexico City 61 56 53 51 45 1980 – Liverpool begins to operate 43 the Perisur mall, being its first real 39 estate operation 36 1847 – J.B. Ebrard arrives to Mexico 28 26 City from France 2.4x 2.3x 17 1.9x 1.8x 15 16 1.4x 1.7x 1.4x 1.4x 1.0x 1.1x 0.9x 0.6x 0.9x 0.6x 0.6x 8 8 9 9 0.4x 0.5x 0.4x 6 7 4 4 4 5 2 2 3 – 1 1 . Profitable growth and significant value creation through the development of a dense network of stores across Mexico and selected acquisitions Source: Company website and annual reports. (1) Includes Liverpool and Fábricas de Francia formats. Does not include Suburbia Net debt / EBITDA calculated in local currency. 6 Strategy going forward Private label credit card growth Customer Organizational Service Development Suburbia’s Customer Integration Relationship Omnichannel Experience Deleverage 7 Experienced management team with proven track record and strong corporate governance Graciano Guichard CEO El Puerto de Liverpool 16 Yrs José Rolando Campos Laurence Andrew Pepping Santiago de Abiega Ernesto Ynestrillas Grl. Mgr. Liverpool Grl. Mgr. Suburbia and Digital Grl. Mgr. Financial Businesses Grl. Mgr. Real Estate Strategy 18 Yrs 4 Yrs 18 Yrs 25 Yrs Antonino Guichard Carlos Marín Íñigo Bizcarguenaga Alejandro Mallet Director - Digital Director - International Director - Logistics Director - Boutiques 12 Yrs 4 Yrs 19 Yrs 15 Yrs Zahie Edid Norberto Aranzábal Enrique Güijosa CHRO Director - Legal CFO 14 Yrs 38 Yrs 8 Yrs More than 190 years of combined accumulated experience 8 Founded in 1970 Suburbia National presence in Mexico (122 Stores) Seven stores fully owned . Leader in the apparel specialty retail North . 6 Stores sector in Mexico . 2.7% of total revenue Northeast . 5.8% Sales CAGR (6 years) . 9 Stores One of the top brands in México . 6.6% of total revenue . 8.6% Sales CAGR (6 years) . The company has ~8,800 employees . Positioning: Affordable fashion for the whole family Southeast . 12 Stores . Private labels represent 60% of total . 8.6% of total revenue . 5.9% Sales CAGR (6 sales years) . Strong management team Northwest . High potential for growth in categories . 5 Stores . 2.2% of total revenue such as shoes, jewelry and cosmetics . 4.6% Sales CAGR (6 years) . Sound financial results and attractive Central margins . 55 Stores Southwest . 44.2% of total revenue .
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